bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...X1ueR0CwN7soOD8n4%3D

this near enough hit its target with a low of 223p....
Off course could have done a lot worse than buying near the low....but have we now missed the boat?

Maybe but at the very least this should come back from this gap resistance...to make a higher low....possibly to around the 260p area...
From there if we get a h/high....then bulls are back....but a lower low....then it should go a lot lower...

wait and watch imvho....

atb, wdik, dyor,
trendfriend

200~220 is where it went with gulf emexico issue.
Love to top up at that area for long term

bp - monthly.
uk.advfn.com/p.php?pid=chartscreenshotsh...YU1mxr57n1caS2AIiPI=

Monthly very long term chart here....this has been making lower highs for some time....
Need weekly close on end of week closing basis below 298p to open possible move as low 200/220p imvho....

very strong stock....so may not go that low during this bear phase....but lets see

atb, wdik, dyor,
trendfriend

I had to sit on my hands, this morning, Shell at £12.50 and BP at £3.

I hope it was correct.

bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...XFXreJdLd1hDWyAsekk=

this has looked bearish for a while now....nothing to really stop this falling to the key 300p imho...during this current reversal.....
atb, wdik, dyor,
trendfriend

bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...EpzuljZuTfFoo29K5oc=

This has hit the key 438p support level(see chart below from 3 dec)
it has also gapped and broken below the Aug trend channel/triangle....

This needs to hold 438p...or its in real trouble...more down to come imvho...

atb, wdik, dyor,
trendfriend

bp - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...EzLNMtrPFIIKBiIUG6A=
this is making its way down nicely. i think via a few small dead cat rallies make its way to 438p....before a decent bounce.

I may well get tempted for some around that area...lets see..

atb, wdik, dyor,
trendfriend

bp - daily long term.
uk.advfn.com/p.php?pid=chartscreenshotsh...8snTETY+w9tg+aH+4do=

does look like a clear break of the main up trendline here imho...

The very least should hit 450p....possibly even lower imho

lets see...

atb, wdik, dyor,
trendfriend

Well this looked like it was going to fly away not that long ago...

It has really been dumped recently....
Crude oil...has been moving down through Oct/Nov....usually strong months for crude...

while we may get a rally on crude...and hence oil stocks...as both are very oversold.
i think the upside may well be limited...just a oversold rally...then down again maybe?

I think caution on oil stocks...over the coming months may not be a bad idea imvho...

atb, wdik, dyor,
trendfriend

Bounced off
524p?

Oil is dropping .... so chancces this can go lower...and give us a good buy price..

bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...+NFeUIS6zIzifvHIOcA=

this is testing trendline support level...another support below at 542p (200 day ema line)....
will they hold?

would see a big drop if they fail imvho...

atb, wdik, dyor,
trendfriend

Bp - weekly
uk.advfn.com/p.php?pid=chartscreenshotsh...wvLI4CWSRU%2FiElQ%3D

Nice test and hold of the 200 day ema line on the daily chart here.... and this is still making hh's....
while its in a hh's mode....i think the target mid term is 700p, as shown by the broadening triangle...

atb, wdik, dyor,
trendfriend

bp. daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...emIRPdNwsuskJQUe8%3D

This has now come towards the 550p area....the rsi is dtill making lower, lows, so i think it could come off a tad lower to test the 200 day ema line on the daily....so around 520p area....

atb, wdik, dyor,
trendfriend

In the short term....a possible small p/b here....down towards the 450p, possibly to 435 trendline test.
Any dips should be buying opps...

---

Just correcting a typo, i think this should come back down to 535p/550p area imvho....not 435/450p as i wrote in the post below.....although 435p would be nice place to get in!! lol...

atb,
trendfriend

This is a stock i was looking to buy, but i thought it would drop lower towards 400p! partle because the ftse looked like it would fall of cliff...a couple of months ago!..
So i didn't get in!!

Anyway. to the charts...
BP. Monthly.
uk.advfn.com/p.php?pid=chartscreenshotsh...IBO6eqO1KVo0eDnAU%3D

Clear breakout form a 2007 resistance line, which should be a trend change here...

bp. daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...GDAiF9+1AGstme31clE=

In the short term....a possible small p/b here....down towards the 450p, possibly to 435 trendline test.
Any dips should be buying opps...

only a close below 495p, would cancel the bullish view.

so short term, a small p/b....long term up above 700p imvho....

atb, wdik, dyor,
trendfriend

bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...I7pBBe0DCyKIaktSlqM=

its been a good 5 weeks since we looked at this.....and in those 5 weeks nothing much has happened.....it was around 485p when we looked at this on the 7th of Feb...it's now at 465p area...

A closer look does actually show a significant technical event here imvho...because in that time this has developed what looks to be almost certainly a bear flag imvho....bang underneath the 200 day ema line fetaure.....and i think it's about to break down....and that flag breakdown should give a downside target of about 400p.....but lets see...

A weekly close, on a end of week closing basis back above 482p....cancels the bear view...but the setup is still bearish here.....and that is unlikely atm...

atb, wdik, dyor,
trendfriend

quick look here at BP.
bp = daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...re%2FtfxUYv0TWWnQ%3D

the bearish rsi div, was the signal to get out....
the break below and subsequent failure to get above teh 20 day ema line was the signal a nasty fall was in the offing imho.....

This has broken below the 200 day ema line.....and the retest doesn't look very convincing imvho.
Looks like a bounce from oversold rsi levels......and now ready for new leg lower.....

bp. - weekly.
uk.advfn.com/p.php?pid=chartscreenshotsh...cyumb+8Lj0Fu5/53Aoc=

The weekly shows the bounce from 452p being the 200 day ema line on the weekly chart....
The main trendline looks vulnerable...and the rsi has fallen below the neutral 50 level all indicating further downside...

485 and 475p crucial must hold levels...below 475>452p>437p>410p

by all intents and puposes, at the very least this should retest 452p imvho because the technical set up is bearish....

A weekly close above 485/490p area opens up the highs again....

atb, wdik, dyor,
trendfriend

LTV,
Please see the attached chart...
You can see it went to 452 yday and then back up.... ta G

watch the 200 day ema line around 412p......at least a reasonable possibility to test that level imvho....

atb, wdik, dyor,
trendfriend

I didn't see it hit 452.

Today will be intereesting....

Weekly chart, nice hammer.



But daily chart, it retested the trendline and failed.

Didn't know it went to 452 today!!!

Out at 480p.... Don't want to try my luck further....

Paitech wrote:
I was thinking about it, didn't have the balls.

I'll see tomorrow, if it's anything like what happened to shell, profits doubled and share price dropped 2%, admittedly there was a market drop.

Bought in at 481.6p ..5k £ worth
Small punt before tomorrow results
Ta G

Thanks trendfriend.

I'll keep watching.

If it gets to 400, I think I will load up.

strong support for this stock between 485p (200 day ema line) and 470p/472p main trendline....and pivot level.

Tight stops are a must below 470p, a drop below 470p, could well mean a stronger p/b to the low 400p area is possible imvho....

Ultimately this needs to clear 535p for higher imvho....no break no higher, so thats the target...

A bit of a slow burner for me......a like to go a bit more gung ho....(if you know what i mean)...but this is nice safe stock, that pays a good divi as well...
atb, wdik, dyor,
trendfriend

BP Weekly.

Looks to have support in 2 forms around 484-490.

Trendfriend, did you buy around 440?

Results soon, so be careful, shell profits doubled, but fell 2%.

nice call...turned down nicely from there

BP. - Monthly Chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...QriqC3I%2Fz6PFwn0%3D

This is approaching a key resistance trendline at 531p (falling a slightly monthly)

If it breaks above, it would end a very long term down trend here.....10 + years!!

Any would be a massive buy signal, and indicative of long term strength.....not only for BP but for the ftse and whole sector imvho....

atb, wdik, dyor,
trendfriend